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Caspian Pipeline Consortium reports that two of the three Black Sea oil moorings have been operational

Caspian Pipeline Consortium, which handles around 1.5% of the global oil, announced on Monday that it has brought back one of its Black Sea docking points after maintenance following an accident at another loading point last week.

CPC, which is mainly carrying oil from Kazakhstan, has confirmed that mooring point SPM 1 and SPM 3 are currently operational. This latter has been under maintenance since August 15

Last Friday, the consortium announced that it had halted operations at SPM 2 after an oil spill occurred during a loading process.

CPC operates with two moorings and uses the third one as a backup.

CPC's shareholders, including U.S. giants Chevron, Exxon Mobil and others, have been in the spotlight on several occasions during the Russia-Ukraine conflict.

Due to storms, unplanned maintenance and oil spills the consortium had to close all of its moorings points except one several times by 2022. This severely reduced exports along this route. This year's operations were also disrupted by a Ukrainian Drone strike. (Reporting and editing by Mark Trevelyan; Reporting by Vladimir Soldatkin)

(source: Reuters)